> People act like this is some spiteful thing he's doing in order to just post edgy memes or have a 'private' social media for himself.

I think more likely, he feels like if he owns the platform he will be free of legal oversight and SEC interference in regards to whatever he wants to say over his bully-pulpit - Twitter. We have (literally) the richest man in the world being told that he's not allowed to do something, and he thinks he has the means to fix that.